Research On The Operational Mode Of Real Estate Investment Trusts In Our Country

Real Estate Investment Trusts ( REITs ) have become increasingly prominent participants in the commercial property business around the world. More and more nations and regions are discovering the benefits of REITs and are altering their laws to create REIT-like vehicles to realize these benefits.These years, the trust companies in China have developed many real estate trust projects especially after the central bank had contracted the policy of credit of the real estate. But our real estate trust pojects are different from REITs. Developing REITs is important and feasible in China. How to introduce REITs to China? How our real estate trust pojects transfer to REITs? And which operational mode should we accept? This thesis tries to answer these questions and gives some suggestions.At the beginning, the thesis introduces the definition and sorts of REITs. And in the second part of Chapter 2, the special characters of REITs are discussed.In the third Chapter, the thesis focuses on the development and the operational modes of REITs.The successful development of REITs in US give us valuable experiences. And it compares the Asia operational mode with the US operational mode.In the fourth Chapter, the thesis introduces the real estate trusts developed by our trust companies and compare them with REITs. This part also indicates that REITs is the development direction of our real estate trusts.The last Chapter is the most important part in this thesis. At the beginning ,it focuses on the importance and feasibility of the development of REITs in China. Then,this part analyses and compares three operational modes and draws a conclusion that trust mode is the feasible mode we should take. Finally, some suggestions are given.